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RTPR and Dentons Advise on Engie's Sale of Flashnet to Lucy

RTPR and Dentons Advise on Engie's Sale of Flashnet to Lucy

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Radu Taracila Padurari Retevoescu has advised the Engie Group on its sale of an 80% stake in Flashnet to the Lucy Group. Dentons advised the buyer.

According to Dentons, the transaction also involved the sale of a minority package by two minority shareholders who remained in the business.

Flashnet is a Romania-based company that integrates IT, energy, and telecommunications technologies into hardware and software solutions, creating and implementing intelligent systems for urban infrastructure.

The Engie Group specializes in low-carbon energy and related services. The company employs over 170,000 people around the world.

The UK-headquartered Lucy Group and its subsidiary Lucy Zodion specialize in street lighting controls, smart lighting, and smart city technologies.

"We are very excited to join the Lucy Group and to unite our smart lighting business and expertise," Flashnet CEO Lorand Mozes commented. "I believe that our world-class technology, long-term vision together with Lucy Group’s growth strategy is a perfect match and creates a unique opportunity to become a global leader in the delivery of smart lighting solutions. More importantly, with the Lucy Group we share the mission to shape a more sustainable future for the next generations."

"The acquisition of a majority shareholding in Flashnet very much aligns with our strategic aim of creating a market-leading smart lighting business," Lucy Zodion Managing Director John Fox added. "Flashnet’s technology, markets, and capabilities are very complementary to Lucy Zodion’s, allowing us to combine the smart lighting elements of the businesses to deliver even better customer solutions, greater geographic coverage, and exciting composite business growth."

The RTPR team included Partners Mihai Ristici, Valentin Berea, and Roxana Ionescu, Managing Associate Marina Fecheta-Giurgica, Senior Associate Vlad Druta, and Junior Associate Flavia Mincu.

The Dentons team was led by Partners Cristina Daianu and Claudiu Munteanu-Jipescu and included Partners Tiberiu Csaki and Raul Mihu and Counsels Cristina Marcu, Argentina Rafail, and Elena Vlasceanu.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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